Neom - Arabian Gulf Business Insight

Neom City is an ambitious mega development in the northwest of Saudi Arabia. It includes several large-scale initiatives such as The Line, Trojena, Sindalah, Zardun, Aquellum, and Epicon. The project is a cornerstone of the kingdom’s national transformation strategy.

Revised Investment Strategy

Saudi Arabia’s Public Investment Fund is nearing the completion of a revised investment plan for Neom. Governor Yasir Al Rumayyan stated that this update aligns with the fund’s broader focus on six major development sectors.

“Saudi Arabia’s Public Investment Fund is in the final stages of approving a revised investment strategy for the Neom giga-project,” said Yasir Al Rumayyan.

Expansion Beyond Saudi Arabia

Luxury resort developer Red Sea Global plans to extend its operations internationally. CEO John Pagano announced that the company’s first overseas venture will be centered on tourism and hospitality in Italy.

“RSG will expand beyond Saudi Arabia with an initial project in Italy,” said John Pagano.

Pagano also confirmed that he will join the board of Neom, strengthening the collaboration between Saudi Arabia’s major development initiatives.

Related Developments

Red Sea Global is owned by Saudi Arabia’s Public Investment Fund.
Neom’s sub-projects aim to integrate sustainability, innovation, and luxury tourism.
The revised strategy reflects efforts to optimize national investments across multiple sectors.

Author’s summary: Neom evolves as Saudi Arabia’s flagship development, aligning with a renewed investment focus while Red Sea Global expands into the global tourism market.

Arabian Gulf Business Insight | AGBI — 2025-11-02